Mount Hope at a glance
- Population: 1,276 — 88th in West Virginia, which has 230 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 1,339 (US Census Bureau).
- 2020 to 2023 change: about 4.7% below the 2020 Census base (US Census Bureau).
- Rank among West Virginia places: 88th of 230 by population (US Census Bureau, Vintage 2023).
- Size percentile: larger than about 62% of the Census places in West Virginia (US Census Bureau).
- Coordinates: 37.8969, -81.1721 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Oak Hill, WV (5 mi); Beckley, WV (9 mi); Mabscott, WV (9 mi); Fayetteville, WV (12 mi); Hinton, WV (22 mi) (US Census Bureau).
- Nearest smaller communities: Pax, WV (5 mi); Thurmond, WV (7 mi); Lester, WV (13 mi) (Census populations).
What a personal loan costs in Mount Hope
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
West Virginia lending rules that apply in Mount Hope
The table lists the West Virginia rules that apply to a loan made in Mount Hope, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Traditional payday lending is generally prohibited; check cashers are regulated under W. Va. Code ch. 32A Source says: Traditional "Payday Lenders" are generally prohibited within this state. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated consumer lender license required from the Commissioner (W. Va. Code § 46A-4-101) Source says: Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
| State lending regulator | West Virginia Division of Financial Institutions (WV DFI) Source says: The West Virginia Division of Financial Institutions is charged with the regulation and supervision of financial institutions chartered by the State of West Virginia. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 31% per year on unsecured loans of $3,500 or less; 27% on $3,500–$15,000; 18% above $15,000 (W. Va. Code § 46A-4-107) Source says: the loan finance charge, calculated according to the actuarial method, may not exceed 31 percent per year | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
How to compare offers in Mount Hope
The order below is a sensible way to approach a loan in Mount Hope:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in West Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.